Telcos gain on report evaluation of their AGR math may take 6 months

Shares of telecom companies gained on Wednesday on report that it would take at least six months to evaluate the companies’ self-assessment of dues linked to adjusted gross revenue (AGR).

Among individual stocks, Vodafone Idea surged as much as 23.5 per cent to Rs 4.94 on the BSE while Bharti Airtel was up 2.46 per cent to Rs 508.5. In comparison, the benchmark S&P BSE Sensex was trading 0.1 per cent higher at 10 AM.

So far, telcos including Bharti Airtel, Vodafone Idea and Tata Teleservices have assessed their dues as a fraction of what the government had estimated.

According to this Business Standard report, the financially stressed telecom industry could get a breather as it would take time to evaulate the companies’ self-assessment.